Cemig, Renova sign 676-MW Bahia wind deal

Brazilian power conglomerate Cemig has secured a 50 percent stake from local renewable energy developer Renova in a project to build 25 wind farms.

Jul 21st, 2014
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by Michael Place, BNamericas

Brazilian power conglomerate Cemig has secured a 50 percent stake from local renewable energy developer Renova in a project to build 25 wind farms.

Cemig will pay $51 million for its share of the project in northeastern Brazil, which will total 676 MW of installed capacity, the Belo Horizonte-based firm said in a statement.

The deal came after Cemig exercised an option to participate in the project, tendered by Renova in February.

"Cemig and Renova will share the future investment in the project in the proportion of their equity ownership," according to Cemig.

The wind farms are in Jacobina, about 300 km northwest of Bahia state capital Salvador.

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